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Sunday, 28 December 2014

1. Who among the following is the primary regulator of Banking business?
a) Reserve Bank of India
b) Central Government
c) State Government
d) Parliament
e) a and b both the above

2. The main business of banks is to accept deposits from the public. However, a bank can refuse to
permit opening an account on behalf of _______:
a) Undesirable persons
b) Artificial persons
c) Arrested persons
d) Convicted persons
e) All of the above

3. Banks are required to monitor transactions of suspicious nature for reporting to the authorities under anti- money laundering measures. The purpose of reporting is:
a) Combating finance of terrorism
b) To check hawala transactions
c) To check the inflow of crime money
d) To check inflow of the money earned out of sale of narcotics
e) All the above

5. If a company, which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:
a) RBI Act 1934
b) Banking companies Act
c) Companies Act 1956
d) Central Government
e) None of the above

6. Companies whose main business is not financing or lending are permitted to accept deposits under section 45(s) of RBI Act only from:
a) Public
b) Relatives in the from of loans
c) Friends
d) All of the above
e) None

7. Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:
a) Section 7 of Banking Regulation Act
b) Section 7 of RBI Act
c) Section 7 of SEBI Act
d) Section 7 of Nationalization Act
e) None of the above

8. In India, it is necessary to have license from the RBI for opening a new branch. This is a requirement under ____ Act
a) Section 22 of banking Regulation Act
b) Section 22 of RBI Act
c) Section 22 of NABARD
d) KYC Guidelines by RBI
e) a and b above

9. Section 6(A) of B.R. Act has given the list of ancillary services which can be rendered by a Bank under the Banking Regulation Act. in the event that a Bank wants to undertake any other services (other than the list):
a) the bank can seek authority from the RBI
b) Board of directors of that Bank can decide the business suitable to the bank
c) it can be decided by the Bank in the shareholders meeting
d) Bank can do so if that business is notified by the Central Government as the lawful business of a Banking company
e) None of the above

10. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase
securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
a) Indian Contract Act
b) SARFAESI Act
c) Government Notification
d) Banking Regulation Act
e) None of these

11. Section 9 of the Banking Regulation Act prohibits the banking Companies from holding any
immovable property except for its own use for a period of not more property. The RBI may extend this period for a further period of ______:
a) 2 years
b) 4 years
c) 5 years
d) 6 years
e) None of the above

12. Which of the following stock exchange is derecognized by SEBI on 19.11.2014 on the allegations of serious irregularities in its functioning?
a) Bombay Stock Exchange
b) Delhi Stock Exchange
c) Calcutta Stock Exchange
d) Bangalore Stock Exchange
e) None of the above

13. Which of the following is not a function of General Insurance?
a) Cattle Insurance
b) Crop Insurance
c) Marine Insurance
d) Fire Insurance
e) Medical Insurance

14. Liability- side of the balance-sheet comprises:
a) Capital and reserve
b) Long-term liabilities
c) Current liabilities
d) All of the above
e) None of the above

15. Minimum cash reserves fixed by law constitute ___
a) A percentage of aggregate deposits of the bank
b) A percentage of aggregate loans and advances of the bank
c) A percentage of capital & reserves of the bank
d) All of the above
e) None of these

16. Which of the following organizations/ agencies has sought an emergency fund of Rs.1000 crore
from banks to tackle acute liquidity crisis, which is coming in the way to give loans to micro borrowers?
a) Regional Rural & Cooperative Banks
b) RBI
c) Micro Finance Institutions
d) NABARD
e) None of the above

17. Which of the following types of accounts are known as "Demat Accounts"?
a) Zero Balance Accounts
b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No
other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility
e) None of the above

The economic development of a nation is reflected by the progress of the various economic units, broadly classified into corporate sector, government and household sector. While performing their activities these units will be placed in a surplus/deficit/balanced budgetary situations.
There are areas or people with surplus funds and there are those with a deficit. A financial system or financial sector functions as an intermediary and facilitates the flow of funds from the areas of surplus to the areas of deficit. A Financial System is a composition of various institutions, markets, regulations and laws, practices, money manager, analysts, transactions and claims and liabilities.

The word "system", in the term "financial system", implies a set of complex and closely connected or interlined institutions, agents, practices, markets, transactions, claims, and liabilities in the economy. The financial system is concerned about money, credit and finance-the three terms are intimately related yet are somewhat different from each other. Indian financial system consists of financial market, financial instruments and financial intermediation.

Financial Markets
A Financial Market can be defined as the market in which financial assets are created or transferred. As against a real transaction that involves exchange of money for real goods or services, a financial transaction involves creation or transfer of a financial asset. Financial Assets or Financial Instruments represents a claim to the payment of a sum of money sometime in the future and /or periodic payment in the form of interest or dividend.

Money Market:
The money market is a wholesale debt market for lowrisk, highly-liquid, short-term instrument.
Funds are available in this market for periods ranging from a single day up to a year. This market is dominated mostly by government, banks and financial institutions.

Capital Market:
The capital market is designed to finance the long-term investments. The transactions taking
place in this market will be for periods over a year.

Forex Market:
The Forex market deals with the multicurrency requirements, which are met by the exchange of currencies. Depending on the exchange rate that is applicable, the transfer of funds takes place in this market. This is one of the most developed and integrated market across the globe.

Credit Market:
Credit market is a place where banks, FIs and NBFCs purvey short, medium and long-term loans to corporate and individuals.

Financial Intermediation:
Having designed the instrument, the issuer should then ensure that these financial assets reach the ultimate investor in order to garner the requisite amount. When the borrower of funds approaches the financial market to raise funds, mere issue of securities will not suffice. Adequate information of the issue, issuer and the security should be passed on to take place. There should be a proper channel within the financial system to ensure such transfer. To serve this purpose, financial intermediaries came into existence. Financial intermediation in the organized sector is conducted by a wide range of institutions functioning under the overall surveillance of the Reserve Bank of India. In the initial stages, the role of the intermediary was mostly related to ensure transfer of funds from the lender to the borrower. This service was offered by banks, FIs, brokers, and dealers. However, as the financial system widened along with the developments taking place in the financial markets, the scope of its operations also widened. Some of the important intermediaries operating ink the financial markets include; investment bankers, underwriters, stock exchanges, registrars, depositories, custodians, portfolio managers, mutual funds, financial advertisers financial consultants, primary dealers, satellite dealers, self regulatory organizations, etc. Though the markets are different, there may be a few intermediaries offering their services in move than one market e.g. underwriter. However, the services offered by them vary from one market to another.

Tuesday, 23 December 2014

Banking, in the present form might have evolved during the 17th century. Kautilya, in his ‘Arthashastra’ written in about 300 B.C., has also mentioned about the existence of powerful guilds of merchant bankers who received deposits, and advanced loans and issued hundis (letters of transfer). In the modern times, an experienced Scottish goldsmith, William Paterson, is credited with the idea of setting up a national bank in Britain in 1688, which gave birth to the Bank of England. The modern day banking, in its simplest form, is meant to facilitate financial intermediation between the savers and the borrowers. It also seeks to act as a safe place to store money and earn some return in the process, as also a place to seek simple financial solutions to individual problems.The advent of technology in modern times has heralded three distinct phases in banking: a) Computerization of back office processes during the 1980s,b) Facilitating higher customer convenience during the 1990s andc) Enabling lifestyle/life stage banking during the 2000sThus, over time, the banks have witnessed significant changes in their outlook and have emerged as financial supermarkets offering a range of complex financial products and services on a round the clock basis, duly customized to the needs of their customers through multiple delivery channels

RBI

Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the RBI Act, 1934 (the Act). This marked the culmination of the prolonged efforts, to set up a central bank in the country. The principle of aligning the regulatory structure to the specific needs of the country and for that matter to even go beyond the prevalent wisdom and ethos were distinctly visible at that time itself. Despite the Reserve Bank being constituted as a central bank, it was thought fit to prescribe in the statute itself a development role for the Reserve Bank. Accordingly, the Act has a provision that the Reserve Bank will develop and maintain expertise in agricultural development (later expanded as rural development) and related subjects and thus began the role of the central bank being sensitive to the need of the economy. As such, after independence in the year 1947, the Indian banking industry was brought under the regulatory ambit of the Reserve Bank of India.1)Banking Companies Act was passed in the year 1949.2)Later, in March 1966, certain co-operative societies were brought within its fold and this act was renamed as the Banking Regulation Act, 1949 (BR Act). This enactment brought significant powers to the Reserve Bank of India (RBI) over the banks.Private banks were then on the scene, though the money lenders were the major source of funding. A usurious and exploitative system prevailed Promotional and Developmental role of the Central Bank in IndiaThe basic function of the Reserve Bank, according to the preamble of the Reserve Bank of India Act, is to regulate the issue of Bank notes and the keeping of the reserves with a view to maintaining monetary stability in India and generally to operate the currency and credit system of the country to its advantage.This function imposes on the Reserve Bank the responsibility for: i. Operating the monetary policy for maintaining price stability and ensuring adequate financial resources for developmental purposes;ii. Promotion of the efficient financial system; and iii. Meeting the currency requirement of the public.

Establishment of Specialized Institutions:-

1. Reserve Bank established a separate institution, viz., the National Bank for Agricul- ture and Rural Development (NABARD) for provision of medium-term and long-term refinance for agriculture and rural development as also for providing consultative service to the Government and banks and generally coordinate its activities in area of agricultural credit with those of the agencies engaged in purveying such credit.RBI promoted of Industrial Finance Corpo-ration of India (IFCI), State Financial Corporations, Industrial Development Bank of India (IDBI) and Unit Trust of India (UTI). Reserve Bank promoted the Deposit Insurance and Credit Guarantee Corporation of India Limited (DICGC) for providing insurance and guarantees against the risk of default in payment by the banks or to the banks. Further, the Reserve Bank also helped establish specialized institutions for specific type of financing, likei. National Housing Bank (NHB) andii. Export Import Bank of India (EXIM Bank).iii. Discount Finance House of India (DFHI) and the Securities Trading Corporation of India (STCI).iv. Clearing Corporation of India Ltd (CCIL)v. National Payment Corporation of India Ltd (NPCI).Expansion of the scope and reach of the Indian banking system:Even though, up to the late 1960’s the Indian banking system made reasonable progress, there were still many rural and semi-urban areas which were not served by banks. The large industries and the big and established business houses tended to enjoy a major portion of the credit facilities, to the detriment of the priority sectors such as agriculture, small-scale industries and exports. Thus, with the primary objective of achieving efficient distribution of resources in conformity with the requirements of the economy and in order to meet the needs of the priority sectors, the Government decided to introduce social control over banks by amending the banking laws. Accordingly, on July 19, 1969 and April 15, 1980 respectively, 14 and six major Indian scheduled commercial banks in the private sector were nationalised. Social control marked a transitory stage in the evolution of banking policy and in this process; a system of credit planning and the Lead Bank Scheme were operationalized by the Reserve Bank to make the banking system function as an instrument of economic and social development. In conformity with these desired objectives of social control, the banking policy was reoriented in the seventies for securing a progressive reduction in poverty, concentration of economic power and regional disparities in the banking facilities. The promotional aspects of the banking policy came into greater prominence. In this direction, the branch expansion policy was designed, among other things, as a tool for reducing inter-regional disparities in banking development, deployment of credit and urban-rural pattern of credit distribution. Administered interest rate policy emerged as an important instrument for directing the flow of funds and for augmenting the pace of deposit mobilisation. The Reserve Bank opted for selective extension of credit under the Selective Credit Control scheme to those sectors that were accorded priority in conformity with the national objectives. The objective was to correct undue price fluctuations in respect of certain commodities such as food grains and agricultural raw materials arising from speculative activities. The main instruments of Selective Credit Control were a) minimum margins for lending and b) ceilings on the level of credit against stocks of selected commodities to control the quantum of credit given.The period since 1985 was a process of consolidation which involved, i) comprehensive action plans by banks covering organization, structure, training, house-keeping, customer service, credit management and recovery of bank dues, productivity and profitability,ii) phased introduction of modern technology in banking operations with emphasis on financial viability by easing some of the policy related constraints on profitability,iii) strengthening capital base of banks and iv) allowing them flexibility in several areas.By the end of eighties, the Indian economy had developed an extensive financial superstructure consisting of a vast network of institutions, deploying varied instruments and facilitating the mobilisation and channeling of funds for working capital and production credit purposes as well and for long term investment. The Reserve Bank thus helped promote and nurture a functionally varied and spatially diversified financial system.

NABARD

National Bank for Agriculture and Rural Development (NABARD) was established on 12th July, 1982 under the National Bank for Agriculture and Rural Development Act, 1981 by merging the Agriculture Credit Department and Rural Planning and Credit cell of RBI. It took over the entire functions of the Agriculture Refinance and Develop-ment Corporation (ARDC). NABARD was established with the recommendations of CRAFICARD Committee. Its head office is situated at Mumbai. It planned to open offices through out India. In the beginning the paid up capital of the NABARD was Rs.100 Crores contributed by the Govern-ment of India and RBI jointly. Its authorized capital raised to Rs.1000 Cores. The other funds of NABARD werea. National Rural Credit (Long Term Operations) Fund b. National Rural Credit (Establishment ) Fundc. Funds raised by issue of bonds and deben tures guaranteed by the Central Government d. Borrowing from RBI, Central Government or any other organisations approved by the Central Governmente. Funds from external sources through the Government What are the functions of NABARD?Ans: 1. Credit functions 2. Development functions 3. Regulatory functions

Credit functions:NABARD is an apex development bank for agriculture and rural development. It has been established for providing credit for the promotion of agriculture small scale industries, cottage and village industries, handicrafts and the rural crafts and other allied economic activities in rural areas with a view to promote integrated rural development and securing prosperity in rural areas. It also provides refinance facilities to commercial banks, RRBs, Co-operative banks, Land Development Banks and other financial institutions. It also provides refinance for loans granted under IRDP scheme. Basis of refinance by the NABARD is the percentage of recovery during previous year. Development functions: NABARD also undertakes the functions of co-ordination of various institutions in this area, acting as an agent to the Government and RBI, providing training and research facilities and development of expertise in the field.Regulatory functions: The Banking Regu- lation Act, 1949 authorises NABARD to inspect RRBs and Co-operative banks (other than primary co-operative banks). These banks file returns to NABARD and also obtain recommendations from NABARD in case of opening of new branches.NABARD is managed by a Board of Direct- ors consisting ofi. Chairmanii. Directors nominated by RBI, Government of India, State Governmentsiii. Experts from Commercial and Cooperative Banksiv. Experts in Rural economics

2. In the recent months, Indian Rupee depreciated heavily against US Dollar. Rupee depreciation means?a) Value of Rupee decreasing against a basket of currenciesb) Less number of Rupees per US Dollarc) More number of Rupees per US Dollard) Less number of Dollars per Rupeee) None of the above

4. Food Security Bill is recently passed by Parliament. What does the Food Security Bill intend to achieve?a) At least 3kg of food grains per person per month to be given to general category households, at prices not exceeding 50% of Minimum Support Price.b) Up to 75% of the rural population and up to 50% of urban population are to be covered under Targeted Public Distribution System.c) Children aged six months to 14 years would get take-home ration or hot cooked food.d) The oldest adult woman in each house would be considered the head of that househole when issuing the ration card.e) All of the above

6. In India, Capital Markets are regulated by?a) Securities and Exchange Board of Indiab) Reserve Bank of Indiac) State Bank of Indiad) International Monetary Funde) None of the above

7. RAND is the currency of ?a) China

b) Japan

c) North Korea

d) South Africa

e) None of the above

8. Recently RBI took several steps to control Rupee depreciation. Reason(s) for to Rupee depreciation?a) Exports become costlierb) Imports become costlierc) Imports become cheaperd) Both (a)&(c) e) None of the above

19. As per findings of the recent Raghuram Rajan Committee report which State is the most developed?a) Kerala

b) Goa

c) Gujarat

d) Tamilnadu

e) None of the above

20. As per the insurance bill, 2013, Foreign Investors can hold up to?a) 51% of the capital in an Indian insurance companyb) 39% of the capital in an Indian insurance companyc) 49% of the capital in an Indian insurance companyd) 29% of the capital in an Indian insurance company

e) None of the above

21. Statutory Liquidity Ratio (SLR) refers to the amount that the commercial banks require to maintain with RBI. What are the permitted SLR investments?a) Only Gold

b) Gold or Govt approved Securities

c) Only Govt approved Securitiesd) Only Cash

e) None of the above

22. Direct Taxes Code (DTC) is intended to be introduced in the monsoon session of Parliament. DTC seeks to replace?a) Indian Contract Act

24. In July 2013, SEBI Act was amended to curb Ponzi schemes. Ponzi Scheme means?a) Name of a Mutual Fund Scheme to earn higher returnsb) Collective investment Schemes floated by fly by night operatorsc) Name of a Bank Deposit Productd) Name of a Health Insurance schemee) None of the above

25. The minimum rate of Interest charged by a Bank from Customers on the loans is?a) Base Rate

b) Bank Rate

c) Prime Rate

d) Prime Lending Rate

e) None of the above

26. Which of the following is NOT true with regard to FCNR Accounts?a) NRIs can open the Accountb) Can be opened in 'Permitted Currency' onlyc) Minimum Term is 1 yeard) Maximum Term 5 yearse) None of the above

27. REPO rate means?a) Rate at which the RBI will borrow from the banksb) Rate at which banks will borrow from other banksc) Rate at which the RBI lends to banksd) Rate at which banks lend to customerse) None of the above

28. Fiscal Deficit Refers to?a) The difference between the government's total expenditure and its total receipts(including borrowing)b) The difference between the government's total expenditure and its total receipts(excluding borrowing)c) The difference between the government's Tax collections and Salary paymentsd) The difference between the government's Tax collections and government's Borrowings

e) None of the above

29. "DAX" is the stock market in?a) Germany

b) USA

c) France

d) Hongkong

e) None of the above

30. Which of the Public Sector bank tag line "India's International Bank" ?a. SBI

b. PNB

c. ICICI

d. HDFC

e. BOB

31. Which bank has launched "travel card" for students joining abroad?a. SBI

b. PNB

c. ICICI

d. HSBC

e. ICICI

32. Who is the Chairman of the committee set up to scrutinize applications for new Bank licenses?a) Usha Thorat

b) Bimal Jalan

c) C B Bhave

d) S Damodaran

e) None of the above

33. Who is the World Bank President?a) Christine Legrade

b) Jim Yong Kim

c) Raghuram Rajan

d) Monteksingh Ahluwalia

e) None of the above

34. Ben Bernanke is the Chairman of Federal Reserve. What is Federal Reserve?a) Central Bank of UK

38. What is a stale cheque?a) A cheque issued without drawer's signature.b) A cheque with only signature of the drawer.c) A cheque which has completed 3 months from the date of its issue.d) Any one of the above.

e) None

39. Interest on savings bank account is now calculated by banks on?a) Minimum balance during the monthb) Minimum balance from 7th to last day of the monthc) Minimum balance from 10th to last day of the monthd) Maximum balance during the monthe) Daily product basis

40. Largest shareholder (in percentage shareholding) of a Nationalized bank is ?a) RBI

3. Which of the following countries has topped the list of countries receiving remittances from overseas workers in the year 2013 as per the World Bank report?
a) Philippines
b) China
c) India
d) Mexico
e) None of these

4. Which of the following banks has re-launched its channel on You- Tube with the aim of strengthening its social media presence?
a) HDFC Bank
b) SBI
c) YES Bank
d) ICICI Bank
e) None of these

5. India's first post office savings bank ATM facility has been recently inaugurated in which of the following places?
a) Chennai
b) Bengaluru
c) Mumbai
d) Delhi
e) None of these

6. Which of the following banks has recently launched 'Branch on Wheels' in Odisha as part their financial inclusion plans to provide banking services in remote villages in the state which are devoid of banking facilities?
a) SBI
b) Axis Bank
c) HDFC Bank
d) ICICI Bank
e) None of these

7. Which of the following banks has become the first Indian private sector bank to set up a branch in China?
a) ICICI Bank
b) HDFC Bank
c) YES Bank
d) Axis Bank
e) None of these

13.Fixed deposits and recurring deposits are?A. Repayable after an agreed periodB. Repayable on demandC. Not repayableD.Repayable after death of depositorsE.Repayable on demand or after an agreed period as per bank's choice

14. Accounts are allowed to be operated by cheques in respect of? A. Both savings bank accounts and fixed deposit accounts. B. Savings bank accounts and current accounts. C. Both savings bank accounts and loan accounts. D. Both savings bank accounts and cash accounts only. E. Both current accounts and fixed deposit accounts.

15. Which of the following is correct statement? A. No interest is paid on current deposit accounts. B. Interest is paid on current accounts at the same rate as term deposit accounts. C. The rate of interest on current accounts and savings accounts are the same. D. No interest is paid on any deposit by the bank. E. Savings deposits are the same as current deposits.

17. Financial inclusion means provision of ? A. Financial services namely payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the bank B. Ration at affordable cost to persons not yet given the same C. House at affordable cost to persons not yet given the same D. Food at affordable cost to persons not yet given the same E. Education at affordable cost to persons not yet given the same

18. When a bank returns a cheque unpaid, it is called? A. Payment of the cheque B. Drawing of the cheque C. Canceling of the cheque D. Dishonor of the cheque E. Taking of the cheque

19. Who is the Chairman of the committee constituted by RBI to study issues and concerns in the Micro Finance Institutions (MFI) Sector? A. Y.H Malegam

B. Dr. KC Chakraborty C. C. Rangrajan

D. M. Damodaran E. Usha Thorat

20. Which of the following types of accounts are known as 'Demat Accounts'? A. Accounts which are Zero Balance B. Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there C. Accounts in which shares of various companies are traded in electronic form D. Accounts which are operated through internet banking facility E. None of the above

24. What is a stale cheque? A. A cheque issued without drawer's signature.

B. A cheque with only signature of the drawer.

C. A cheque which has completed 3 months from the date of its issue.

D. Any one of the above. E. None

25. Interest on savings bank account is now calculated by banks on? A. Minimum balance during the month B. Minimum balance from 7th to last day of the month C. Minimum balance from 10th to last day of the month D. Maximum balance during the month E. Daily product basis

27. An account that can be opened by business organisations and also individuals is known as a? A. Term deposit

B. Checking Account C. Saving Bank deposit D. No Frills Accounts

E. Current deposit

28. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as? A. CHAPS

B. SWIFT

C. NEFT D. SFMS

E. CHIPS

29. Buy now & pay later refers to? A. Foreign Currency

B. Internet Banking C. US Dollars

D. Traveler's cheques E. Credit Cards

30. Which one of the following is not 'Money Market Instrument'? A. Treasury Bills

B. Commercial Paper C. Fixed Deposit

D. Equity Shares E. None

31. Which one of the following is a retail banking product? A. Home Loans B. Working capital finance C. Corporate Term Loans D. All the above

E. None

32. Finance Ministry has asked the RBI to allow common ATMs that will be owned and managed by non-banking entities hoping to cut transaction costs for banks. Such ATMs are known as? A. Black label ATMs B. Offsite ATMs C. On site ATM's or red ATMs D. Third party ATMs E. White label ATMs

33. Technological advancement in the recent times has given a new dimension to banks, mainly to which one of the following aspects? A. New Age Financial Derivatives B. Service Delivery Mechanism C. Any Banking

D. Any type banking E. Multilevel Marketing

34. Which of the following is NOT a function of the Reserve Bank of India? A. Fiscal Policy Functions B. Exchange Control Functions C. Issuance, Exchange and Destruction of currency notes D. Monetary Authority Functions E. Supervisory and Control Functions

35. Which of the following is NOT required for opening a bank account? A. Identity Proof

B. Address Proof C. Recent Photographs D. Domicile Certificate

E. None

36. What is the maximum deposit amount insured by DICGC? A. Rs. 2,00,000 per depositor per bank B. Rs. 2,00,000 per depositor across all banks C. Rs. 1,00,000 per depositor per bank D. Rs. 1,00,000 per depositor across all bank E. None

37. The Biggest employee in the Private Banking Sector is? A. ICICI

B. HDFC

C. AXIS Bank D. YES Bank E. None of these38. With reference to a cheque who is drawee? A. The bank that collects cheque. B. The payee's bank. C. The endorsee's bank. D. The endorser's bank. E. The bank upon which the cheque is drawn.39. In which of the following fund transfer mechanisms, funds can be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction? A. RTGS B. NEFT C. TT D. EFT E. MT40. Banking Ombudsman Scheme is appli- cable to the business of ? A. All Scheduled commercial banks excluding RRBs. B. All Scheduled commercial banks including RRBs. C. Only Public Sector Banks D. All Banking Companies E. All scheduled banks except private banks.